Thanks Ugly! What about opening an opposite trade instead of using a stop? For example, when we got rejected from 7130 and were trading in the 6.8–6.9k range I scaled in to a short perp with a 6915 average. Then when we started trading above 7–7.1k I knew I was wrong so I scaled in to a long futures position with a 7131 average. The size equal to the short position. Seems to me that because of the inverse nature of the bitmex contracts, as price rises towards 7.5k, the loss of my short decreases compared to the gains on my long. Even with the 200$+ gap between my 2 positions, I would still be in total profit if price kept rising. Plus I’m getting funding from the perp short. Any thoughts on this? I’m new to trading and love all your advice! Thank you
